The GST withdrawal rule 14A is one of the serious compliance checkpoints in 2026. Recent amendments have been brought in for handling the withdrawal of applications by authorities in GST…
Corporate profits do not always go straight to dividends or spending on expansion. This is where general reserve accounting plays an important part. A part is often kept within the…
The introduction of Sec 194R of Income Tax Act has brought a change in the way that businesses deal with marketing incentives and promotional schemes in India. This provision is…
Accurate recording of assets in accounting is very important for any business in India. Assets represent resources owned by a business which are used to create an economic benefit in…
Rarely is a growing business group conducted through just one entity. Indian promoters tend to have a holding company with several subsidiaries for manufacturing, trading, real estate or services. Separate…
Financial statements must be accurate in reflecting the attitude of true performance. The realization concept in accounting states that revenue is only worth recording when it is actually earned and…
Credit sales are prevalent in the Indian trading, manufacturing and services sectors. This is where the Debtors Turnover Ratio comes in useful. However, late collections have the potential to disrupt…
Stock is money sitting around on shelves. Too much stock obstructs working capital. Too little stock is what causes lost sales. This is where Inventory Optimization comes into play, very…
A purchase credit journal entry is one of the most common entries recorded in Businesses. Traders, Manufacturers, Retailers, and MSMEs regularly buy goods on credit from suppliers. This transaction is…
Filing Appeals under GST is a serious step by any Indian business. It generally is predicated on a demand order, penalty, rejection of refund or an input tax credit dispute.…
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